Hinduja Energy (India) Limited vs Valuecorp Securities And Finance ...
- CitationCompany Appeal (AT) (Insolvency) No. 1763 of 2025
Ratio decidendi
The rule this decision rests on
The Tribunal reduced the costs imposed by the Adjudicating Authority from Rs.5 lakh to Rs.50,000 and directed that the amount be deposited in the Prime Minister's National Relief Fund, because the appellant had only sought time, had already filed its reply, and the grant of time had become final, leaving costs as the sole grievance.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
Hinduja Energy (India) Ltd. ....Appellant Vs.
Valuecorp Securities and Finance Ltd. ...Respondent For Appellant Mr. Himanshu Satija, Mr. Anshul Rao, Advocates.
For Respondent
ORDER
(Hybrid Mode)
14.11.2025: Heard Counsel for the Appellant.
2. This Appeal has been filed against the order dated 30.10.2025 passed
by the Adjudicating Authority (National Company Law Tribunal) Mumbai
Bench, Court VI by which order Adjudicating Authority while granting seven
days' time to the Corporate Debtor to file a reply has imposed cost of Rs.5
Lakh.
3. Counsel for the Appellant submits that he has only prayed time for
seven days and he has already filed the reply. It is submitted that the
imposition of cost of Rs.5 Lakh is too excessive.
4. We have considered the submissions of the Counsel for the Appellant
and perused the record.
2
5. The Adjudicating Authority having already granted seven days' time to
file reply and reply has been filed. The said order has become final. Appellant
is aggrieved only against imposition of cost of Rs.5 Lakh. We are of the view
that in the facts of the present case, ends of justice be served in reducing the
cost to Rs.50,000/-. The Appeal is disposed of subject to modification of cost
to Rs.50,000/- which shall be deposited within a week in the Prime Minister's
National Relief Fund.
6. The Appeal is disposed of.
[Justice Ashok Bhushan] Chairperson
[Barun Mitra] Member (Technical) Anjali/md
This page reproduces a public judgment and a summary of it. It is research material, not legal advice, and it is no substitute for advice from an advocate on your own facts.
Research this judgment with Miss Lucy
Ask what it holds, what has followed it, and what it means for your matter — in plain English, with the citations.
Try Miss Lucy free